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US courts Asian allies to rebuild shipbuilding prowess as China powers ahead | US sanctions two tankers linked to Iranian armed forces and Houthis | Alternative-fuel newbuilding orders decline as those for bulkers and tankers rise

LONDON, Feb 24 — Two years after Russia launched a full-scale invasion of Ukraine, prompting multiple rounds of Western sanctions, Moscow increasingly relies on a shadow fleet of...

The US has blacklisted Russia’s state-owned giant Sovcomflot, joining the UK, Australia, Canada and New Zealand. Ofac has issued a general license allowing a 45-day period to offload the sanctioned tankers’ cargoes, and another one authorising transactions with all other Sovcomflot-owned vessels

Eastern Pacific Shipping has made its first move in the wind-assisted propulsion space, signing a deal with rigid suction sail developer bound4blue to install three of its sails onboard 50,000 dwt product tanker Pacific Sentinel

Mao has reached the retirement age for top-level executives at state-owned Chinese enterprises

A US-flagged tanker built in Bethlehem Steel in 1963 and scrapped in 2021 has pinged its AIS location in the Russian port of Novorossiysk recently, one of several bizarre AIS signals broadcasted by the dead vessel in the past four years

Despite stable volume developments, CMA CGM saw a sharp downturn in earnings in the final quarter of 2023. New capacity will add pressure this year despite Red Sea disruption

Marking the two-year anniversary of Russia’s invasion of Ukraine, the US slapped sanctions on 500 entities and companies. The Treasury Department argued its recent crackdown, or ‘phase II’ of the price cap, is forcing Russia to again sell its oil at a ‘steep discount’, but admitted that Russia was able to sell ‘a large amounts of oil above the price cap’ through parts of last year thanks to the dark fleet*

‘The EU doesn’t understand there is shipbuilding in Europe — it focuses on shipowners,’ said Sea Europe director of trade and competitiveness Vincent Guerre

US-listed owner of 40 vessels trims dividend to $0.075 per share